Ex-HBOS chief gives up knighthood

4:22pm Tuesday 9th April 2013

By Andy Richardson

FORMER HBOS chief executive Sir James Crosby today said he wanted to be stripped of his knighthood and would give up 30 per cent of his £580,000 a year pension after last week's scathing report into the bank's collapse.

Sir James, who stepped down from his role with private equity firm Bridgepoint on Friday, said he was deeply sorry for what happened at HBOS and the ensuing consequences for the bailed-out banks staff, shareholders and taxpayers.

The banks former boss was given a knighthood after leaving HBOS in 2006, but said he believed it is right that I should now ask the appropriate authorities to take the necessary steps for its removal.